Over two decades ago, I got started in real estate. Yes, I was only 19 then, and this was back when entrepreneurship wasn't cool (it was called 'self-employed'). It was the skills I accumulated in my teenage years by providing services as a landscaper and contractor that led me into the real estate sector.
One of my first properties was an old farmhouse (I wouldn't recommend it to anyone). It had the main house and an art studio. After I purchased it I went to work. Starting with the studio, I converted it into an apartment and moved in while completing the old farmhouse.
I stayed there for over two years and would sell it for one of my first tax-free transactions in the game.
Throughout my 20s, I would invest in real estate in the Outer Banks of North Carolina. This was where my family vacationed yearly and had ties with older generations. I bought and sold land and had the experience of doing some minor subdivision work on somewhere you can split the property up and recover costs with just the sale from one!
Then, in 2006, the market crashed.So, at that time, I had to devote more of my time back to contracting services, and I decided a few years later that I would sell all my equipment and be forced to hire teams to do the remodels on properties I started acquiring again.
It was in 2011 that one of my private lenders started to hear about buying distressed mortgages. As you can imagine, there were mountains of debt for sale in the markets with the subprime meltdown in the 2000s. So I partnered with two other investors, and we started buying non-performing 2nd mortgages across the US for pennies on the dollar.
Then in 2014 I boldly moved from PA to Puerto Rico to enjoy the sunshine, beach, and tax benefits. One partner also decided to make the move, and we would go on to buy REOs across the island and non-performing mortgages over the next six years.
In 2017, I would end up meeting investors in Web3/Crypto and get to understand how this technology would have an impact in twenty years. So, I decided to start allocating capital here and testing the waters, and I have been investing ever since.Also, while in Puerto Rico, I got married, and we had two fantastic boys. We decided in 2019 that it would be best for us to be back stateside. So, we made the move to Raleigh, NC.
I started acquiring lots in the highly desirable Outer Banks of North Carolina. The purchase was eight soundfront lots in an area where kiteboarders hit the water daily.Throughout 2019 I also allocated capital to a partnership that acquired 54 properties throughout Puerto Rico.
Throughout 2020, I also allocated capital to a partnership that acquired 34 first-position mortgages. That venture would go and acquire about 43 properties that year too. Robert Ventures was founded by myself after having partners over the last decade.
I continue to acquire lots to build new homes in the Outer Banks. We also applied for REG A offering with the SEC. We are looking to allow all of our friends to join us on the investing journey. Allocated capital to the crypto market while the prices rebounded from a long, drawn-out bear market.
Join thousands of readers of Joe’s Accredited Insights for tips, strategies, and resources to become a steward of your own capital.
